Thane property market: An overview

[ecis2016.org] Thane is an emerging destination with upcoming residential projects and promising investment opportunities

Thane is a well-known suburban district of Mumbai and located very close to various other prominent townships of Navi Mumbai, Kalyan, Dombivali, Bhiwandi, Badlapur, etc. A city in itself, Thane has witnessed significant development and expansion in the past few decades providing a boost to the Thane real estate scenario. The district can be widely divided into eastern and western halves. The western half is said to be the better developed locality situated close to the Eastern Express Highway and thus, is well-connected to Mumbai. Thane west is also a popular tourist spot being surrounded by landmarks like the Kanheri Caves, Upvan Lake and Sanjay Gandhi National Park.

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On the other hand, various new projects in Thane east are also under construction keeping pace with the developments of western Thane. Various popular landmarks located nearby Thane east include the Talao Pali, Upvan Lake, Panchpakhadi, Parsik Hill and the old and famous Kopineshwar Temple. Various residential projects are also being developed in neighbouring localities of Mulund, Kanjurmarg, Koparkhairane, Bhandup and Airoli.

Thane as a district has a very strong economy that offers plenty of opportunity for the working population. Owing to the presence of numerous large and small-scale manufacturing industries, it attracts people from all incomes groups and all parts of the country. This in turn gives a positive boost to the Thane real estate market.

Connectivity with nearby Thane localities

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Thane east lies very close to the Eastern Highway, thus, assuring smooth connectivity. There are various other major roads including the Mumbai Highway, Mulund-Bridge Road and Saket Kalwa Road which lie close to the region. BEST buses plying in the Thane east localities offer adequate public transport to residents and the suburban trains connect Thane to Mumbai. Further, the Central Railway Station is located 33.2 kilometres away from the region and Chhatrapati Shivaji International Airport lies at a distance of 21.5 kilometres.

Thane west is also connected to major areas like Borivali, Airoli, Dadar and Vashi, through the railway system. In the region, bus services are offered by BEST, NMNT and TMT connecting Thane to Vashi and Wadala.

 [ecis2016.org] Property rates & trends in Thane, Mumbai

Schools in Thane and other social amenities

In terms of recreational activities, entertainment and shopping, Thane offers many options with the Lake City Mall being merely 4-minutes’ drive from Thane west. Other places include the Viviana Mall, Korum Mall and Eternity Mall which are located nearby. Thane east offers recreational clubs like the Blue Roof Club, United 21 and Golden Swan Club and Cross World and Eternity Mall, which are the shopping malls in Thane east. Reputed schools and colleges in Thane include Merry Angels International School, DAV Public School, Euro School, Nalanda Public School, Holy Angels High School, BNB College of Science and Dnyansadhana College.

Physical infrastructure in Thane

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The Metro rail service has been proposed for Thane district which is expected to improve connectivity of the region to a very large extent.

Price trends in Thane

• Size of apartments in Thane east is estimated to be around 675 to 1,250 sq ft.
• Size of apartments in Thane west is estimated to be around 419 to 5,000 sq ft.
• As per the price trends in Thane east, the average price for an apartment in the region is Rs 11,200 per sq ft.
• Recent price trends have been estimated to be around Rs 10,800 per sq ft for apartments in Thane west.

Reasons to invest in Thane

Prominent builders in Thane include Hiranandani, Rustomjee, Hubtown, Lodha, etc. Their newly launched projects have led to a significant price appreciation and overall development and rise in demand for property in the region. With well-designed apartments and flats in Thane, there is good investment opportunity for people in search of good property. Rapid development in transportation and other infrastructure is also expected to make Thane one of the many sought-after residential destinations close to suburban Mumbai.

Check properties in Thane

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Category: Lifestyle